Flutterwave, Africa’s leading payments technology company, has secured approval from the Bank of Ghana, to provide inward remittance services.
This milestone strengthens the company’s presence in Ghana’s rapidly evolving fintech landscape and reinforces its commitment to facilitating seamless cross-border transactions across Africa.
Commenting on the milestone, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave said,
Register for Tekedia Mini-MBA edition 17 (June 9 – Sept 6, 2025) today for early bird discounts. Do annual for access to Blucera.com.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register to become a better CEO or Director with Tekedia CEO & Director Program.
“We are excited to receive the approval to provide inward remittance services in Ghana, which marks a significant step in our mission to simplify payments for endless possibilities. Remittances play a vital role in the Ghanaian economy, and our goal is to make the process as seamless as possible for Ghanaians in the diaspora looking to send money home. This approval is a testament to our ongoing commitment to supporting financial inclusion and economic growth in Africa.”
Also commenting, Oluwabankole Falade, Chief Regulatory and Government Affairs Officer at Flutterwave, added,
“This approval showcases our dedication to complying with regulatory standards and our readiness to provide reliable payment solutions that address the unique needs of the Ghanaian market. We are grateful to the Bank of Ghana for their support and look forward to expanding our services in the country.”
Ghana’s Burgeoning Fintech Landscape
Ghana’s fintech landscape has been coined one of the most active in sub-Saharan regions as it has one of the highest mobile adoption rates. Mobile money accounts for nearly 60% of foreign exchange transactions in the country, underscoring the importance of financial inclusion.
The country’s fintech space is expanding beyond mobile payments, with significant growth in InsurTech, LendTech, and Buy Now, Pay Later (BNPL) services. Notably, the Government of Ghana has introduced an array of digitization and innovation initiatives under the Digital Ghana Agenda in an effort to facilitate fintech growth, such as the regulatory and innovation Sandbox Pilot to promote growth in this sector.
Also, the Bank of Ghana has played a pivotal role in fostering this growth by implementing progressive regulatory policies under the Ghana Digital Agenda. These policies encourage innovation while ensuring consumer protection and financial stability. Flutterwave’s approval to offer inward remittance services aligns with these initiatives, providing Ghanaians with more secure and cost-effective options for receiving funds from abroad.
FlutterWave’s Inward Remittance Services Impact on Ghana’s Economy and Financial Inclusion
Remittances form a crucial part of Ghana’s economy, contributing significantly to household incomes and overall economic stability. By enabling efficient inward remittances, Flutterwave aims to bridge the financial gap for individuals and businesses, offering faster, more affordable transactions compared to traditional banking channels.
With this approval, Flutterwave is expected to enhance its suite of services for businesses and individuals in Ghana. The company’s existing payment infrastructure, which includes payment processing, mobile money integrations, and merchant services, will now be complemented by its inward remittance capabilities.
This move also positions Flutterwave as a key player in Ghana’s cross-border payments ecosystem, further strengthening its presence in the West African region. The expansion aligns with its broader strategy of deepening financial inclusion by making digital payments and remittances more accessible across Africa.
As Flutterwave scales its operations in Ghana, consumers and businesses can expect improved financial connectivity, fostering economic growth and greater integration with global financial systems.